Report: Volusia tax roll up for 1st time in 6 years

A slight overall increase in Flagler also represents the first positive turn since 2007, said Flagler's property appraiser, whose numbers will be available Thursday.

CHRIS GRAHAMSTAFF WRITER

Volusia County Property Appraiser Morgan Gilreath hasn't been accustomed to giving good news to local governments. But on Wednesday his office released preliminary tax-roll estimates showing an overall increase in the county of more than $1 billion from the previous year — the first overall gain since 2007. "The real estate recession, I think, is over," Gilreath said. "This is the first time I can say that." A slight overall increase in Flagler County also represents the first positive turn since 07, said Flagler Property Appraiser Jay Gardner. "Since we were down about 6 1/2 percent last year, any gain is a really big difference," said Gardner, whose city-by-city numbers will be available Thursday.The new numbers are refined estimates from a similar report issued last month. While final assessments won't be done until the fall, these numbers will be used by local governments in setting their budgets for the coming fiscal year. The total assessed value of property in Volusia is estimated at $36.2 billion including new construction, up nearly 3 percent from about $35.2 billion a year ago. "We're having more sales and prices are up," Gilreath said. "We're seeing increases in new construction activity — residential and commercial. All that combines for a picture that bodes well for the Volusia County economy." Almost every city saw its tax roll rise with New Smyrna Beach, Daytona Beach Shores, Edgewater and Holly Hill, Deltona and Pierson seeing some of the biggest upswings (4.5 percent or better). New Smyrna Beach's 4.6 percent uptick in assessed value (from about $3.3 billion to almost $3.4 billion) was a $154.1 million difference, the largest amount in the county. Ponce Inlet was the only city to see its tax roll drop — 0.55 percent or about $4.4 million. In Orange City, where property assessments rose by 4.45 percent or about $30 million, Mayor Tom Laputka said he and others have felt the city's commercial properties have been undervalued, despite enjoying a high occupancy rate. "We've always felt the value is there, so this is very encouraging," he said. Other cities including Daytona Beach, Port Orange and Ormond Beach saw modest growth with property assessments rising less than 3 percent from the previous year. "It shows things are starting to get better," said Ormond Beach Commissioner Troy Kent. "It's trending in the right direction." And as assessments have risen, the number of homes on the market has dropped dramatically. John Adams, general manager of Adams, Cameron and Co. Realtors, said lower-end homes are quickly being snatched up. He said about 3,000 single-family homes are on the market in Volusia County, down from about 8,000 in 2009. "The amazing buys out there are completely gone, and we're seeing a lot of activity in (the) luxury (market)," he said. G.G. Galloway, a partner at Ormond Beach real estate firm Coldwell Banker Commercial Benchmark, cautioned that market values are still around pre- to early 2000 levels and the area still has a long way to go. "I think it's a great sign," he said. "It's good news for everybody."